Brazilian state-run oil company Petroleo Brasileiro (PBR, PETR4.BR), or Petrobras, will continue looking to add refining capacity to meet the fast-growing nation's fuel product needs, Downstream Director Paolo Roberto Costa said Thursday.
Brazilian state-run oil company Petroleo Brasileiro
(PBR, PETR4.BR), or Petrobras, will continue looking to add refining capacity
to meet the fast-growing nation's fuel product needs, Downstream Director Paolo
Roberto Costa said Thursday.
"We have refining capacity of 1.9 million barrels a day but our market
today is about 2 million barrels a day and last year GDP increased 7.5% and
demand for the big products, like jetfuel, gasoline and diesel increased on
average 10%," said Costa, explaining that Petrobras expected this
differential to widen.
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